The Method for Evaluating Location Alternatives Based on Comparing Composite

question 30

Multiple Choice

The method for evaluating location alternatives based on comparing composite (weighted-average) scores of both quantitative and qualitative criteria is:

• A)break-even analysis.
• B)transportation method.
• C)factor rating analysis.
• D)linear regression.
• E)a Voronoi polygon.

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Definitions:

Behavioral Economists

Experts in a field of economics that combines insights from psychology to understand how people make economic decisions.

Faulty Heuristics

Cognitive shortcuts that lead to errors in judgment or decision-making due to biases or flawed logic.

Impulse Control

The ability to resist or delay an impulse, urge, or temptation to perform an action.

Recognition Heuristic

A decision-making process where a more recognized option is chosen over the less familiar one, based on the assumption that recognition is correlated with value.